March 4, 2010 -- Vancouver, BC -- Laurentian Goldfields Ltd. (LGF-TSX.V) (the "Company") announces that it has staked an extensive gold anomaly defined by the Company approximately 34 kilometres south of Red Lake, Ontario. A total of 247 contiguous claims covering 56,822 hectares, collectively referred to as the Goldpines Property ("Goldpines") have been staked over this anomaly. Goldpines is accessible via Ontario Highway 105.
Goldpines has been staked to cover a hydrogeochemical ("HGC") anomaly that was defined by Laurentian's geological team following an October 2009 HGC survey targeting prospective areas along the contact of the Uchi and English River Geological Subprovinces. The HGC survey detected a greater than 200 km2 area, characterized by anomalous concentrations of gold, antimony, arsenic and other key elements that Laurentian believes to be the alteration footprint of a significant gold mineralization event.
"Goldpines has a robust, multi-element anomaly, the areal extent of which compares to the core of the Red Lake gold camp," states Andrew Brown, president and CEO of Laurentian. "Laurentian is first on the ground in what could be a significant new gold district in Ontario."
Goldpines straddles the boundary between certain areas of interest in the Uchi and Superior Alliances that Laurentian is currently engaged in with Kinross Gold Corporation ("Kinross") and AngloGold Ashanti Ltd ("AngloGold"), respectively (see press releases dated, August 11, 2009 and April 29, 2009, respectively).
A key component of Laurentian's regional exploration has been to focus on unconventional targets that lie outside of thoroughly prospected greenstone belts. Goldpines is predominantly underlain by meta-sedimentary rocks and paragneiss, a geological environment similar to Goldcorp's Eleonore Property, wherein the multi-million ounce Roberto Deposit occurs at the contact between the La Grande and Opinaca Subprovinces, in the James Bay district of Quebec.
Planning for 2010 exploration at Goldpines is currently underway.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Brown, M.Sc., P.Geo.
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to mineral potential and planned exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, realized mineralization of properties and the timing and success of future exploration, development and production activities.
For further information, please contact:
Vanessa Pickering, Manager, Corporate Communications
Tel: (604) 646-1598
Fax: (604) 642-2411